Times Live | Graham Wood:
E-commerce, or online shopping, has revolutionised the retail world, but the art market has for some time been tentative about making forays into the online realm.
New order: ‘Apocalypse’ by Keith Savel Alexander (South African, 1946-1998) sold for R292809
As Ruarc Peffers, a senior art specialist at art auctioneers Strauss & Co, says, there was a strong belief among galleries and art auctioneers that buying art involved a tactile, visceral response to a work, and that art buyers would insist on seeing works first-hand.
But as online art auctions have taken off around the world, it has become increasingly clear that is not the case. Peffers cites a report by UK art insurer Hiscox, which found in 2013 that 71% of its survey respondents said they had bought art sight unseen, and “65% of buyers are already extremely or very satisfied with their online art-buying experience”…
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